Warner Bros. Discovery is a global media and entertainment conglomerate with three main segments: studios, networks, and direct-to-consumer. These divisions produce, distribute, and license films and television programs; manage domestic and international TV networks and streaming services; and handle themed experiences and interactive gaming. The company owns an extensive portfolio of intellectual properties such as Batman, Superman, and Wonder Woman, as well as franchises including HBO Max, DC Studios, and Discovery Home Entertainment. In June 2025, the company announced plans to split into two publicly traded companies: one focused on streaming and studios; the other on global networks.
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